Went public 3/3/2000 at $24 apiece
Filing Range:3.85 mil. shares @ $12 to $14
Shares Outstanding:37.9 mil. shares
Underwriters:Thomas Weisel Partners
Dain Rauscher Wessels/SG Cowen/DLJdirect
(Data in $ millions)
Total Revenue $3.95 $12.58
Net Loss -8.13 -32.6
Versata’s software and services enables customers to rapidly deploy e-business software applications that can be modified quickly to meet constantly changing business requirements. The company’s e-business automation system utilizes a unique business rules automation technology that redefines how companies create, deploy and modify the critical e-business software applications used to transact their online business. As of Dec. 31, 1999, Versata had licensed its product to about about 500 customers worldwide for use in a wide range of business-to-business, business-to-employee and business-to-consumer software applications. More than 35 customers have purchased the company’s products and services for over $100,000, including Canadian Pacific Ships, El Paso Energy, Hilton Hotels, IBM, IM Group, Interim Services and ITT Fluid Technology. Versata has into a strategic marketing and development relationship with IBM to provide a single product offering that integrates its software with IBM’s WebSphere Application Server Advanced Edition.
Estimated net proceeds of $44.9 million will be used for product development and investment in technology infrastructure and for sales and marketing.
Morgenthaler Ventures, The Goldman Sachs Group, Vulcan Ventures Inc., Charles River Ventures, Alta Partners, Hambrecht & Quist, Sigma Partners